Property Abroad.com top 10 overseas property destinations for may 2009

Overseas property portal Property Abroad has revealed the top ten most popular countries for May, and though many of the results may surprise many people, one explanation accounts for them all according to Julie Liddle the portal's emerging trends analyst.

The fact that Spain and America remained in first and second position will come as a surprise to very few people.

Greece and France taking third and fourth positions is a big shock however, especially given that they were in eighth and ninth positions respectively last month. This is a sign that the lifestyle buyers, who have been waiting to see how far prices will fall, are coming back into the market, according to Julie Liddle.

"France taking fourth place from Portugal, and Greece taking third position from Turkey, is a sign that the pent-up demand that myself and many analysts believed existed for the higher end overseas properties in established markets was real, and is starting to be released now as the Pound strengthens against the Euro," she said.

Another semi surprise: Cyprus climbed two places to steal fifth position, which was held by Italy last month. This is also because the lifestyle buyers, who have been waiting for a stronger Pound, are coming back into the market, according to Liddle.

"Cyprus property again, was mainly being bought by lifestyle buyers, and its rising popularity now further enhances my belief that the Lifestyle buyers who were hanging back waiting for the Pound to strengthen, and see how far Eurozone properties were going to fall in value, are now coming back out with a vengeance," Julie said.
Turkey fell back to sixth from fourth last month, Italy seventh from fifth last month, Portugal dropped back an incredible five places to be eighth most popular in May, and Egypt gained one place to take ninth position in May.

The final shock came in Canada re-entering the Chart in 10th spot. Canada hasn't been in the top 10 since the first quarter of 2008. Julie put forward a possible reason for Canada re-entering the chart.

"This is another sign that the pent-up demand is being released. Canada property prices were falling, and there have currently been reports that the market is close to bottom. Those waiting to see how far prices would fall, are now getting in and seeing what kind of bargains they can get," she said.

The full results of the top 10 for May are as follows:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

Compared to Last Month's:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

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US visitors encouraged to buy property in Turkey

Second home buyers could find buying a property abroad in Turkey yields positive returns.

According to Property Wire, the European country is currently making a concerted effort to promote its tourist attractions to leisure travellers from the US.

Turkey's affordability is being lauded as one of its main selling points, as it offers much lower prices than other Mediterranean nations such as France and Spain.

As a result, overseas property buyers could be well-placed to benefit from a surge in the number of visitors from overseas. Graham Holding, a second home owner with a property in Antalya, said rental investors in particular could benefit from the decline in tourism in other nations, such as Bulgaria.

"Knowing that Turkey is part of a major advertising campaign in the US means that we can target these markets," he commented.This comes after Abta - The Travel Association highlighted Turkey as one of the main hotspots for British holidaymakers this year.

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Tourists set to flock to Turkey

Owners of rental accommodation in Turkey could be in line to benefit from an influx of British visitors.

New figures from M&S Money have revealed that Turkish lira have been in high demand among consumers in the UK.

The organisation has attributed this development to exchange rates in the rest of Europe, as the euro is currently much stronger than the pound.

As a result, British leisure travellers can get more for their money by travelling outside the eurozone to places which offer more favourable rates.

This trend is likely to be good news for property investors who have invested in Turkish tourist hotspots, as it means demand for rental accommodation is likely to go up.

Fraser Millar, head of travel services at M&S, commented: "As the pound has weakened against the euro, travellers are looking for value-for-money holidays in non-euro resorts."

This comes after the Association of British Travel Agents recently reported a surge in the number of summer bookings for Turkey this year.

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Turkey Opened up by Low Cost Airline

A budget airline could be set to trigger a new wave of interest in a Turkish holiday resort among property buyers.Flyglobespan has confirmed that in May 2009, it will begin offering weekly services between Aberdeen and Dalaman.This means that people living in the Scottish city and surrounding areas will find the Mediterranean resort far more easily accessible.As a result, Dalaman will be likely to attract a greater number of visitors from Scotland.Indeed, Rick Green of Flyglobespan said the flights have been introduced in response to customer demand.He commented: "Turkey, with its rich culture, great beach resorts and reputation as a value-for-money destination, is bound to be a winner."This means that demand for temporary lodgings in the region should rise significantly, thereby creating opportunities for rental investors to benefit.Earlier this week, M&S Money revealed that there has been a 53 per cent year-on-year increase in sales of Turkish lira in the UK.

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Turkey attracts British holidaymakers

More and more leisure travellers from the UK are choosing to visit Turkey, analysts have revealed.

According to the Association of British Travel Agents (ABTA), there has been a 20 per cent increase in the number of bookings for holidays to Turkey this year.

The organisation believes this is because the strong euro has put people off visiting Mediterranean countries in the eurozone, such as Italy and France.

Since Turkey offers more favourable exchange rates, visitors can enjoy similar attractions at a relatively low price.

Speaking to the Scotsman, ABTA spokesperson Frances Tuke said: "Turkey has been a popular market this year, because it is outside the eurozone and British travellers are now familiar with it."

She added that people are not willing to let the economic downturn in the UK force them to give up their holidays.

This comes after price comparison site Cheapflights revealed that it has also seen an increase in the amount of interest in Turkey.

Figures show that in the last 12 months, the number of people looking for information on areas such as Dalaman has risen by more than 17 per cent.

News brought to you by Property Abroad - specialists in Overseas Property Investment

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